Trio Of Banks Subpoenaed As Treasury Market Probe Continues

May 1 2017 | 10:45pm ET

Several Wall Street banks were subpoenaed last month by U.S. federal prosecutors investigating possible manipulation in the $14 trillion U.S. Treasuries market. 

The banks include UBS, BNP Paribas and Royal Bank of Scotland, according to a Reuters article. Bloomberg originally reported on the subpoenas. 

The criminal investigation, nearly two years old, is probing whether a range of banks and brokerage houses conspired to manipulate the prices of various U.S. Treasury securities and auctions of new paper by the Treasury Department. 

Over the course of the investigation, requests for information have been sent to nearly all of the approximately two dozed primary dealers in the Treasury market, Bloomberg said, while several class action lawsuits allege collusion between traders in when-issued securities.

None of the banks subpoenaed have been accused of any wrongdoing, Bloomberg added. 


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of

With NFL season on the horizon, it’s time to take a look at our Fantasy Football value picks. Last year, we nailed it on Drew Brees, Jordan Howard, Frank Gore and Dwayne Allen. We missed pretty badly on Duke Johnson, Demaryius Thomas, Mohammed Sanu and Eli Manning.